Crypto enters September with legislative policy gamble hanging by a thread
· Business · CNBC
The Clarity Act, a proposed bill intended to establish a regulatory framework for digital assets, faces a critical procedural vote in the US Senate on September 15. The legislation aims to divide oversight between the Securities Exchange Commission and the Commodity Futures Trading Commission while setting new anti-money-laundering standards. Despite efforts by industry executives and President Donald Trump to promote the bill, many participants remain pessimistic about its passage before the upcoming midterm elections. Senate Majority Leader John Thune scheduled the vote following the Senate's August recess, though unresolved issues regarding stablecoin rewards and ethics provisions persist. Senator Ruben Gallego is currently working on a bipartisan compromise to address these specific concerns.
Why it matters
The bill's failure would leave the crypto industry operating without comprehensive federal legislation, forcing firms to continue navigating a fragmented regulatory environment. Durable rules are considered essential by investors to attract long-term capital into the digital asset sector.
Read the original report — CNBC
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